Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Reckitt Benckiser has revised its full year like for like revenue target to 2-3% after a flat first half of the year.
Hurt by a slowdown in demand for its infant formula in the US and China, its biggest market, the firm reported just a 1% increase in net revenue to £6.24bn in the six months to 30 June.
Its adjusted operating profit fell 1% to £1.475bn, and its adjusted operating margin also decreased, dropping by 10bps to 23.6%.
Chief executive officer Rakesh Kapoor said the first half performance was 'somewhat below our expectations'.
He added: 'However, we believe much of this is behind us and strong plans are in place to restore growth, including an exciting innovation pipeline such as Mucinex Night Relief and Enfa Grass Fed.
'We are further stepping up our investment in BEI and medical marketing to drive our growth.'